Over Rs 1 Lakh Crore Has Been Deposited In SBI Savings Accounts Since  Notes BanThe local head office of the State Bank of India, Mumbai Circle. Photo credit: Manjulkumar/Wikimedia Commons

The country's largest public sector lender State Bank of India on Monday (5 December) said its savings accounts have swelled up by Rs 1 lakh crore after the withdrawal of high denomination currency notes.

"Our deposits have exceeded by Rs 1 lakh crore in saving accounts from November 8 till date," SBI Managing Director Rajnish Kumar said on the sidelines of Inclusive Finance India summit in New Delhi.

Kumar said the focus was on digitisation of banking operations. "Deposits are not an issue. The agenda for the next 3-4 months is to look at ways to increase our loaning and digitisation of banking operations," Kumar said.

With inputs from IANS

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